Binance, the world's largest cryptocurrency exchange, kicked off the announcement of altcoins. Binance brings good news to XRP and Dogecoin (DOGE) users.
At this time, Binance Earn announced that XRP and Dogecoin (DOGE) have been added to its smart arbitrage products.
Dear Binance users,
Binance Earn is pleased to announce that smart arbitrage will add XRP and DOGE. The minimum investment amount is set at 12.5 USDT.
To celebrate the addition of XRP and DOGE to the smart arbitrage products, we are launching a special event with a total reward of 45,000 USDT.
Event time: November 8, 2024, 04:00 (UTC) – November 21, 2024, 23:59 (UTC)
Smart arbitrage utilizes funding rate mechanisms to hedge spot positions against futures positions and charge funding fees. This strategy eliminates price fluctuation risks by holding opposite positions in the futures and spot markets. Thus, the profits from long positions offset the losses from short positions, and vice versa.
At this time, Binance stated that users can initiate smart arbitrage strategies for XRP and Dogecoin by investing at least 12.5 USDT.
Currently, Binance's smart arbitrage only supports Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
When announcing who can participate in the 45,000 USDT reward event, Binance stated: “According to Binance, all users who participate in the promotional event and hold any smart arbitrage portfolio for more than 72 hours during the promotion period will receive a 10% bonus annual interest rate on their first 1 – 2,500 USDT subscription. The total reward pool of 30,000 USDT will be distributed on a first-come, first-served basis.”
After Donald Trump's victory, the market and investors have been optimistic about XRP and DOGE, and Binance's addition of XRP and DOGE to smart arbitrage has sparked speculation about an upcoming price increase.
In the past week, XRP has risen by 7% and continues to trade at $0.547; DOGE has risen by 28.2% and continues to trade at $0.199.
